Bildkälla: Stockfoto

Cibus: Ready for the next M&A in the Nordics - Nordea

Cibus's Q2 income from property management was largely in line with our expectations, adjusting for one-offs. The integration of the Coop acquisition appears to be proceeding without any major issues and the two acquisitions in Finland during Q2 have boosted earnings capacity. We keep our fair value range unchanged at SEK 140-160 per share, based on a mix of P/EPRA NAV, peer valuations, and DCF. Cibus intends to grow its dividend by 5% annually and will soon start distributing dividends on a monthly basis. We expect the company to continue making add-on acquisitions in Finland and Sweden.

Cibus's Q2 income from property management was largely in line with our expectations, adjusting for one-offs. The integration of the Coop acquisition appears to be proceeding without any major issues and the two acquisitions in Finland during Q2 have boosted earnings capacity. We keep our fair value range unchanged at SEK 140-160 per share, based on a mix of P/EPRA NAV, peer valuations, and DCF. Cibus intends to grow its dividend by 5% annually and will soon start distributing dividends on a monthly basis. We expect the company to continue making add-on acquisitions in Finland and Sweden.
Börsvärldens nyhetsbrev
ANNONSER